Senate Leaders Agree to Take Up Ex-Im Hot Potato

While House Republicans are signaling they may just let the Export-Import Bank expire, both Sens. Harry Reid and Mitch McConnell said Tuesday it’s an issue the Senate must take up in the coming months.

In a rare moment of agreement, the top Senate Democrat and top Senate Republican both said they want Congress’s upper chamber to debate and vote on whether to reauthorize the export bank.

“I haven’t decided what I’m going to do but I do think it’s an issue that is important enough to be debated and voted on here in the Senate,” Mr. McConnell (R., Ky.) said following senators’ weekly conference lunches.

Mr. Reid said he wants to bring up legislation to reauthorize the agency before its current charter expires at the end of September.

“I think it’s really important that we have legislation like this that has wide support of business groups around the country. It’s something that creates jobs,” Mr. Reid told reporters.

Any Senate move to take up Ex-Im legislation is likely to outpace action by the House, where Republican leaders are signaling they may bow to the wishes of their right flank and not reauthorize the bank. Rep. Kevin McCarthy (R., Calif.), who will become the House Majority Leader beginning in August, said on Fox News Sunday he would allow the bank’s charter to expire.

House Speaker John Boehner (R., Ohio), asked about the issue Tuesday morning, said the House plan to deal with Ex-Im will depend on House Financial Services Chairman Jeb Hensarling (R., Texas). Mr. Hensarling’s panel is scheduled to hold a hearing on reauthorizing the bank on Wednesday.

“After that I’m looking forward to the chairman outlining how we’re going to deal with this rather controversial subject,” Mr. Boehner said.

For his part, Mr. Hensarling has signaled little willingness to move a reauthorization bill. On a conference call sponsored by the Koch brothers’ backed Americans for Prosperity on Tuesday he described the Ex-Im issue as a “whither on the vine exercise.”

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